Wednesday 1 June 2011

$200M venture proposed for N.F., Ont. - Atlanta Business Chronicle:

tower-tennesseea.blogspot.com
In a plan that’ss been working its way through theCanadian city’d municipal departments since late last prominent hotelier and developer Tony Zappitell and his company, has unveilec plans for three high-rise hotels alon g Stanley Avenue. The tallest of the threw towers couldbe 57-stories, with a 42-storyh and 32-story hotel also in the mix. Condominiums or apartments may replacd some of thehotel rooms, depending on futurwe developments, Zappitelli said. Zappitellii pegged the total development costat “anywherr between $200 million and $300 million.
” The project will be privately The Niagara Falls Common Council agreed to permit the but several other municipal approvald are also needed before constructiomn can begin. Work could start by later this year orearl 2010. The 7.4-acre Stanley Avenu e site is part of the Loretto Christiahn Life Centre campus that Romzap acquired threeyeara ago. The portions of the historic, 148-year-olx religious center will remain as part of the agreemenyt Zappitelli crafted with Niagara Falls The Loretto property is just south of the proposeddevelopmentg site.
The site is near the Niagarz Falls Convention and CivicCentre that’sw under construction and due to open in Apri 2011 and less than one-half mile from the Hiltonh and Niagara Fallsview Casino Resort. The project will add severao hundred hotel rooms to Niagara stock of morethan 14,000 hotell rooms. Niagara Falls has the third most number of hoteo roomsin Canada, trailing only Toront and Vancouver.

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